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Real estate transactions in Sofia increased 20% in the second quarter of the year compared to the first, despite the current measures against the Covid-19 spread. This is demonstrated by the data of the Registration Agency, cited by the newspaper “Trud”. From April to June, there were 6,352 property sales in Sofia, compared to 5,285 in the first quarter.
Contributing to the increase is the fact that “green” sales are registered with the Registration Agency after the completion of the building and the transfer of ownership of the apartment. 20% shows that the real estate market in Sofia has recovered very quickly, after many people stayed home due to Covid-19 in mid-March.
A total of 37,903 property sales were recorded for the country in the second quarter. This is 0.55% more than in the first quarter, when 37,697 transactions were registered. But there is a big difference in terms of the movement of the real estate market in different cities of the country. In 18 cities, home purchases increased more than 20% compared to the previous quarter. This shows that buyers are very active in these settlements.
First in terms of sales growth is Pirdop. The transactions of apartments and houses registered are 128 for the quarter, which represents an increase of more than 70%. In second place in the ranking is Breznik with a growth of 53.6% and 63 registered transactions. The first five are complemented by three cities with very close results: Troyan (growth of 47.5% and 270 agreements), Svoge (growth of 45.3% and 125 registered sales) and Etropole (growth of 45.2% and 61 agreements). In the registry offices of five more cities, the growth of registered real estate sales exceeds 30%. These are Samokov (+ 39.3%), Botevgrad (+ 36%), Tryavna (+ 34.3%), Dryanovo (+ 34.2%) and Mezdra (+ 33.6%). Seven brides bought a mansion for more than BGN 1 million.
This is due in large part to the growing interest in rural houses, due to the desire of people to get away from the big cities. For example, several Sofians buy houses in the Balkans of Troy, where there is fresh air and beautiful nature. But apart from a number of small settlements in Sofia, there is a sharp increase in sales recorded in other large cities in the country. In Varna, registered sales of real estate in the second quarter of the year were 2709, which represents 6% more than in the first quarter, when 2555 transactions were registered.
In Plovdiv the transaction growth is more than 10% and during the quarter there were 2,988 sales. It turns out that there is strong transaction growth in the three cities where the real estate market is most active. There are more than 400 houses bought in 18 cities and the majority of real estate transactions take place in Sofia. But in other cities of the country the real estate market is very active. Registry offices in four cities recorded more than 1,000 transactions for the second quarter, according to data from the Registry Agency. These are Sofia, Plovdiv, Varna and Burgas.
But there are registry offices in 14 more cities where there are more than 400 agreements in three months. This shows that buyers are not concentrated only in the largest cities. This year a new market trend is the demand for rural houses. Like many people, they choose rural properties surrounded by beautiful nature, but close to a larger city, in order to take advantage of the amenities it offers. We are primarily looking for manufactured homes that do not need major repairs.
Almost 17% of all real estate transactions in Sofia were concluded in the second quarter of the year, according to data from the Registration Agency. The registered purchases of real estate in the capital in three months are 6352, more than double that in Plovdiv, which ranks second with 2988 sales. Varna is the third most active property market with 2709 transactions and Burgas is fourth with 1134 sales. Cities with active real estate markets include Ruse, Stara Zagora, Veliko Tarnovo, Dobrich, Kazanlak, Pazardzhik and Yambol.
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